March 5 Bitcoin ATH post

March 5 Bitcoin ATH post

• March 5 News (69K)
• Jan 10/11 2024 Bitcoin ETF release.
• View of the Jan 10-11 Transactions today.
• What's coming next?
• My investment moves on March 5

March 5 News (69K)

Unless you don't follow any financial news channel, you might be the last person on Earth to know that Bitcoin hit a new All-Time-High (ATH) today.

What does this mean?

• Nothing if you are a "zero coiner".
• Little if you are less than a "one coiner"
• Exciting news if you are a bag holder.

If you hold zero Bitcoin, you still say it is a scam and a ponzi waiting to go to zero. Warren Buffett is in this camp. If Bitcoin survives for the next 10 years or more without the price going up, it has already claimed the title of the "Best Investment" ever award.

While we can't predict the future, it makes sense to toss something into Bitcoin, rather than the "it has no value" and sit on the sidelines. The risk/reward tells you that even 1% or less of your networth should be in Bitcoin. Why do we think it is fine to have 5% or so in bonds or cash-like assets?

Jan 10/11 2024 Bitcoin ETF release.

Two months ago, my friends and readers of my post watched me add some exposure to Bitcoin on Jan 10 and on Jan 11. Here is my post from

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Back then, I was trying to explain that many RETAIL investors can only invest $30-$100 a month into Bitcoin using regular exchanges or things like Coinbase. Why? Most people don't have $10K or $30K sitting around waiting around (Dry Power) to be invested but rather it comes from their paycheck.

However, with the new BITCOIN ETF, I said "The big winners will be people who want to add BITCOIN exposure into their IRA/401K plan." (Quote from my Jan 12, 2024 post).

The data suggests that inflows are mostly because of the new SPOT Bitcoin ETF especially from those in the USA. When you make it easy, I can sell my DIVIDEND stock and move some of that into BITCOIN, which is exactly what I did back in January.

View of the Jan 10-11 Transactions today.

I might two moves, one on Jan 10 - a day before the ETF was released,d and one on Jan 11 - a day my brokerage has some of the new ETF listed.

• Jan 10 - Sold Ford (dividend stock) - up 3%?
• Jan 10 - Purchase Proshare Bitcoin - up 39%
• Jan 11 - Purchase Fidelity Bitcoin - up 30%

To make charting easier, I used the YTD so we could see the data. We can see FORD is trading a bit higher than where it was between the week of Jan 8 - Jan 16. We also see how Bitcoin has moved up in the last 4 weeks.

What coming next?

• May/June
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My investment moves on March 5

Here is what I did on March 5. Did I sell the "top" or "buy" the top? When it comes to Bitcoin, I'm playing RIOT as a way to play BITCOIN indirectly. While there are risks to doing this, I believe I understand the risk, and it is worth it for me to do so.

I still going long on RIOT shares, now that it is dropping down, while Bitcoin has been moving up in the last few weeks. I believe that some folks are overreacting on the HALVING will cut revenues by 50% (since that is where the revenue is coming from when you are a BITCOIN mining company).

But the key here is what is RIOT doing vs what the other businesses are doing. Here is an article by YahooFinance on Riot vs Mara.

Even if Yahoo is wrong and that number is closer to 10K per coin, that still means as long as BITCOIN prices stay above their "cost" to mine, there is a PROFIT. So if 10K was the right number for the "raw cost of mining a BITCOIN", then if BITCOIN fell to $11K, it would still be a profitable business for RIOT.

For this reason, I think the divergence in the RIOT/MARA vs BITCOIN price will eventually fix itself and that the stock will move upwards, just like BITCOIN did. That is why I took a long STOCK position holding as well as a LONG call option on RIOT.

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